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Euro Surges as Highly-Mutated Coronavirus Variant Rattles Global Markets
Published: 26 Nov at 1 PM
Pound (GBP) Gains as Coronavirus Jitters Hit Markets
The Pound (GBP) made significant gains against its more risk-sensitive peers at the end of the week.
News of the emergence of a highly-mutated coronavirus variant in southern Africa described as more transmissible than the Delta variant and able to evade immune responses that current...
Delay to Lockdown Easing Triggers Slump in Pound (GBP)
Published: 16 Jun at 2 PM
Pound (GBP)\r\nThe Pound (GBP) fell to a one-month low against the US Dollar (USD) yesterday, following the UK government’s decision to delay lockdown easing. Sterling also dropped in its currency pairing with the Euro (EUR).\r\n\r\nFallout from the government’s decision overshadowed the publication of positive unemployment rate and...
New Zealand Dollar (NZD) Surges as RBNZ Hints at Raising Interest Rates in 2022
Published: 26 May at 2 PM
The Pound exchange rate held steady today because of a lack of any influential UK economic data.
UK markets remain on the whole positive, however, with Covid-19 infection rates only modestly rising, while daily hospitalisations are showing signs of dropping. Daily deaths from the coronavirus are also relatively low compared...
Pound (GBP) Exchange Rate Dips Despite the UK's Inflation Doubling in April
Published: 19 May at 12 PM
The Pound (GBP) struggled this morning despite UK inflation more than doubling in April because of rising energy prices. Inflation is expected to head higher in the coming months as the UK economy continues to ease lockdown restrictions.
Jon Hudson, fund manager of Premier Miton UK Growth Fund, commented:
Pound (GBP) Rises as UK Growth Rebounds in March
Published: 12 May at 2 PM
The Pound (GBP) rose against many of its peers today after the latest UK growth data revealed that the UK had rebound in March, thanks to the Government’s extensive Covid-19 vaccination rollout programme.
UK Chancellor Rishi Sunak celebrated the data, saying:
‘Despite a difficult start to this year, economic growth...
US Dollar (USD) Bolstered by Safe-Haven Demand as Risk Sentiment Fluctuates
Published: 5 May at 3 PM
The Pound (GBP) exchange rate rose today following news that UK car sales had recovered in April, despite being down by over 12% against pre-pandemic levels.
The Society of Motor Manufacturers and Traders (SMMT) commented on the data:
‘Demand is likely to be driven by a broad range of new models and powertrains, with...
Pound (GBP) Exchange Rate Benefits from Positive CBI Retail Sales Report
Published: 28 Apr at 12 PM
The Pound (GBP) has continued to rise this week following the publication of the latest Confederation of British Industry (CBI) distributive trade index. The figure surged from -45 to 20 in April, buoying confidence in the UK’s retail sector.
Fraser McKevitt, the head of retail at Kantar, commented:
‘There is a growing...
Pound (GBP) Rises as UK Inflation Rebounds on Climbing Fuel Prices
Published: 21 Apr at 12 PM
The Pound (GBP) showed signs of recovery today as UK markets are becoming more optimistic about the state of Britain’s economy. Employers have now begun rehiring following months of begin unable to open due to Covid-19 lockdown restrictions.
As a result, GBP investors are more hopeful that the economy could begin to recover...
US Dollar (USD) Tumbles as Risk Sentiment Improves Ahead of Fed Speech
Published: 14 Apr at 3 PM
The Pound (GBP) exchange rate has weakened this week following the announcement that the Bank of England’s Chief Economist, Andy Haldane, would be leaving the bank next month.
As a result, the Pound (GBP) suffered from concerns that because one of the bank’s more hawkish members is leaving, that the BoE could take a more...
Pound (GBP) Suffers as UK Services PMI is Revised Down for March
Published: 7 Apr at 3 PM
The Pound (GBP) fell against the Euro (EUR) and the US Dollar (USD) today following the release of the latest UK Services PMI, which was revised down to 56.3.
However, the UK’s business activity has picked up, with the latest PMI signaling rebound last month.
Howard Archer, the Chief Economic Advisor to EY Item Club,...